Korea names IMF official as new central bank head

South Korea on Wednesday nominated veteran International Monetary Fund official Rhee Chang-yong as the country’s new central bank chief, who i...

Krafton signs MOU with Solana for blockchain-based games and services

South Korea’s leading game developer Krafton Inc. announced Wednesday it signed a memorandum of understanding with San Francisco-based Solana ...

Naver Z invests in multiple metaverse-related startups to beef up Zepeto

Naver Z Corp. invested in more than eight companies so far this year, according to people familiar with the deals. Naver Z is the operator of Asia...

POSCO to invest $4 bn in Argentina battery materials project

South Korea’s POSCO Group is set to spend $4 billion for the capacity expansion of a new lithium hydroxide factory in Argentina and cathode ma...

Samsung Electro-Mechanics to invest $245 mn more in capex

South Korea’s Samsung Electro-Mechanics will spend more on increasing its semiconductor package substrate production capacity in order to meet...

CJ ENM to invest $82 million in KT to strengthen OTT partnership

South Korean entertainment powerhouse CJ ENM Co. said on Monday it will invest 100 billion won ($82.3 million) in KT Studio Genie, a content produ...

Europe emerges as battleground for webtoon dominance

South Korea’s tech behemoths Naver Corp. and Kakao Corp. are intensifying competition over who will dominate the global webtoon market. ...

SK Siltron to invest $300 mn in US capacity expansion

Auburn, Michigan – South Korea’s silicon wafer maker SK Siltron Co. will invest $300 million to increase production capacity by ten time...

Hyundai Motor invests in cloud, hydrogen firms for future mobility

Hyundai Motor Co., South Korea’s top carmaker, invested $21.6 million late last year in startups with promising technologies in non-automaking...

Private equity consortium buys 30% stake in biotech firm Medipost 

South Korea’s first generation biotech firm Medipost Co. will sell a 30% stake to a private equity consortium, the company announced after W...

GEPS posts 19.4% return from alternative investment in 2021

Government Employees Pension Service (GEPS) of South Korea posted a 8.61% rate of return in 2021, the pension fund announced on March 15. It has ear...

Hyundai to make IONIQ 5 in Indonesia, EV hub for ASEAN market

Hyundai Motor Co. has started mass producing its iconic all-electric crossover IONIQ 5 at its newly built plant in Indonesia, a country that the top...

Hanwha invests another $11 mn in US communications firm Kymeta

Hanwha Systems Co., the defense and air mobility unit of South Korea’s Hanwha Group, made another investment of $11 million in Kymeta Corp., a...

SK Geo Centric invests $55 mn in US plastic waste recycling firm

South Korea’s SK Geo Centric Co. invested $55 million in US plastic waste recycling company PureCycle Technologies Inc. in a move to transform...

SK On, Ford to set up battery JV in Turkey for Europe

South Korean battery maker SK On Co. and Ford Motor Co. will set up a joint venture to produce electric vehicle batteries in Turkey with a local com...

LG Energy shares at lowest since IPO on short-selling concerns

Shares of LG Energy Solution Ltd. on Friday fell to their lowest level since the top South Korean battery maker went public in January on market con...

Korea Hanmi to launch blockbuster hypertension drug in China

South Korea’s Hanmi Pharmaceutical Co. is set to launch its blockbuster high blood pressure drug Amosartan in China, the world’s largest...

Lotte invests in Canada's edible insect food company

South Korea's Lotte Confectionery Co. has invested around 10 billion won ($8 million) in Canada’s edible insect protein producer Aspire Food G...

Samsung Electro-Mechanics to focus on IT, automotive electronics sectors

South Korea’s Samsung Electro-Mechanics is set to focus on information technology and automotive electronics sectors as they are core growth e...

SK units at risk of rating cuts on aggressive investments

South Korea’s SK Group units focusing on investments in new eco-friendly industries are facing risks of credit rating downgrades.Investors hav...

Actis names Scott Choi as its first Korean partner

Private equity firm Actis LLP has promoted its Seoul office Chief Executive Scott Choi as a partner, the company said on March 7. Choi is the first ...

Korea defense firms in spotlight amid Russia-Ukraine war

South Korea’s defense makers are in the spotlight as nations are expected to boost their military power amid the Russia-Ukraine war. Industry ...

Russia-Ukraine war disrupts Korean exports to Europe

Suspended land, air and sea routes to and from Russia are putting South Korean exporters – from Samsung Electronics Co. and Hyundai Motor Co. ...

IONIQ 5, Niro February sales beat global EVs in Europe

Hyundai Motor Group’s electric vehicle sales in Europe are rapidly rising. Hyundai Motor Co.'s IONIQ 5, launched in Norway in May 2021, topped...

Cloud management provider Cloocus receives $41 mn in Series B funding

Cloud management service provider Cloocus Co. has received 50 billion won ($40.8 million) from SK Inc. C&C, those familiar with the investment...

Bank of Wine: High-end wine investment in the form of digital assets

South Korea is the world’s second-most attractive wine market, outranked by only the United States, according to London-based consumer researc...

Korean LPs name their 36 favorite alternative asset managers

KKR was chosen as the best private equity firm by South Korean institutional investors, a survey shows. Blackstone, Macquarie Asset Management and Are...

Hyundai accelerates electrification strategy, targets 7% of EV market

South Korea’s top automaker Hyundai Motor Group on Wednesday set out its vision to become a top-tier eco-friendly auto brand by accelerating i...

POSCO launches holding firm to develop non-steel biz

POSCO, the world’s sixth-largest steelmaker, on Wednesday launched a holding company to develop the group into an eco-friendly future material...

Korean bio ventures struggle with fundraising

Biopharmaceutical companies of South Korea are having a tough time fundraising of late. Bio ventures without specific public offering plans are pa...